Ok, not just advice. My aunt asked me to take over her finances. And she’s not old. Or disabled.
They’re just in over their heads.
Now, my family does not know that I have a blog that lays out every detail of my financial life. The Big Guy knows, but no one else. They know that I write – and that it has something to do with a blog – but I have conveniently led them to believe that all I do is freelance writing. I mean, wouldn’t it be awkward if my family read my blog and knew every detail of my financial life?
But back to my question. What do you do when a relative asks you to take over their finances?
So, we’re sitting in her living room, talking about Baby RB40 and making the switch to one income, so The Big Guy can stay home with her. We start talking about some of the switches we’ve made to make it happen, like budget changes, paying off debt on one income, and cutting expenses. We talked about how we made the switch to Republic Wireless (and we love it), and how we sold one of the cars to get our from underneath the payment. We also talked about eMeals, and how even though the subscription costs money, it actually saves us money because we buy much healthier food, and don’t impulse shop as much.
My aunt and uncle have been living paycheck to paycheck for years. Even though we haven’t really talked about it, it has become increasingly obvious to me. They started off working one job each, but then my aunt started babysitting on the side for some extra money. Then, my uncle picked up another job, and then a lawn mowing side business. In the midst of it all, they’re buying new vehicles, expensive electronics, and vacations. They’re awesome at side-hustles, not so awesome at managing the money they make from them.
Now, I’m not judging, because their choices are their own, and they’re the ones who have to answer for them. Plus, my financial choices have been far from perfect. But when you aunt confesses that they are in chest deep in credit card debt, have more auto loan debt than they can handle, and are still paying on student loans, it’s tough. Then, its made tougher when she tells me that she allows herself $20 a week to spend on candy crush so she can have more “lives” in the game.
So, what do you do when a family member asks you to take over their finances? Obviously, I’m not going to, but what could I do to help her out?
Are there strategies I could use to gently push some cost-cutting measures on them? Or is there a way that I could get them to see their need to make a drastic change and pay off debt like madmen until at least their credit card debt is gone?
*This post may contain affiliate links
Think Pink Sunday, Sunday Showcase, Happiness Is Handmade,Nifty Thrifty Sunday,That DIY Party, It’s Party Time, Sunday Showcase, Around Tuit, Mix It Up Monday, Creative Mondays, Bloggers Brag ,Made By You Monday ,Monday Pin It Party ,Motivate Me Monday ,Thoughtful Spot Weekly Blog Hop ,Monday Funday, Marvelous Monday ,Titus Tuesday ,Tuesdays at our home ,Tell Me About It Tuesday ,Tip Me Tuesday ,Tuesdays With A Twist ,The Inspiration Board ,Tutorial Tuesday ,Create Link Inspire ,Making a Home ,Something Fabulous Wednesday ,The Mommy Club ,Wow Me Wednesday ,Wake Up Wednesday, Adorned From Above Wednesday, Cast Party Wednesday ,Your Whims Wednesday ,The Project Stash ,Whimsy Wednesday ,We Did It Wednesday ,Wednesday Round Up ,Wine’d Down Wednesday ,Inspire Me Wednesday ,Whatever Goes Wednesday ,Something Fabulous Wednesday ,Wow Me Wednesday ,The Pin Junkie ,What To Do Weekends, Inspiration Gallery, Artsy Corner, Inspire Us Thursday, Thrifty Thursday, That’s Fresh Friday, KitchenFun and Crafty, Friday Frenzy, Inspire Me Please, Craft Frenzy Friday, Anything Goes, Pin Me Linky Party, Pin Worthy Projects, Friday Favorites, Best of The Weekend, Link Party Palooza, Friday Flash, Flaunt It Friday, Family Fun Friday, Frugal Friday, Weekend Bloggy Reading, Saturday Show and TellS, aturday Spotlight, Strut Your Stuff Saturday, Saturday Sparks, Saturday Sharefest, Serenity Saturday, Show and Tell Saturday, Get Schooled Saturday, Dare to Share Saturday, Skip The Housework Saturday, Silver Penny Saturday, A Little Bird Told Me